For the past few weeks, markets have seen, heard and suffered enough about U.S. subprime crisis, recession in the U.S. due to this mess, falling U.S. consumer confidance, weak U.S. labour market, rising defaults on U.S. home, auto and credit cards. And it's possible impact on global economy. Markets have suffered so much during this time period that investors/traders have fed up with these sick things. Every day they worry about how Dow Jones will perform, if falls by 3-4%, then their stocks will fall by another 15-25%, then process repeats. It's frustating to see how U.S.Fed sees this problem, he is only worried about higher rates and cutting them in order to give sentimental boost to markets without realising that real issue is making banking lending norms nore stricter and accountable. Markets will be far more confident if he addresses this issue for the long term solution and not behave short sighted just for the sake of curbing extreme volatility in stocks across the globe. Market players are hoping this time around Fed not only do this but will also stop supplying unheard amounts of money into the financial system, thus inviting inflationary pressures into every asset class. For the next few months, investors/traders have to live with very volatile markets, as i said before 2008 will be a real test for everyone to get real returns from these volatile markets.